The Music Events market in Australia & Oceania has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Music Events market in Australia & Oceania have been shifting towards more immersive and interactive experiences. Customers are no longer satisfied with simply attending a concert or festival; they want to be actively engaged in the event. This has led to the rise of music events that offer unique experiences, such as interactive installations, virtual reality experiences, and artist meet-and-greets. Additionally, customers are increasingly seeking out events that showcase a diverse range of musical genres, catering to their individual tastes and preferences. Trends in the Music Events market in Australia & Oceania are also driving its development. One notable trend is the increasing popularity of music festivals. These multi-day events offer a wide variety of musical performances, along with other attractions such as food and drink vendors, art installations, and camping facilities. Music festivals have become a cultural phenomenon, attracting both local and international attendees. Another trend is the growing demand for live music performances in unique and unconventional venues, such as warehouses, rooftops, and even private homes. These alternative venues provide an intimate and exclusive setting for music enthusiasts. Local special circumstances in Australia & Oceania contribute to the development of the Music Events market. The region's diverse cultural heritage and vibrant music scene provide a fertile ground for the growth of music events. Australia, in particular, has a strong live music culture, with a thriving independent music scene and a supportive government policy towards the arts. The country's large urban centers, such as Sydney and Melbourne, are known for their vibrant nightlife and music venues, attracting both local and international artists. Additionally, the region's favorable climate allows for outdoor music events year-round, further boosting the market. Underlying macroeconomic factors also play a role in the development of the Music Events market in Australia & Oceania. The region's strong economic growth and rising disposable incomes have contributed to increased consumer spending on entertainment and leisure activities. As a result, people are willing to spend more on music events, including ticket prices, merchandise, and food and beverages. Furthermore, the growth of digital streaming platforms has made music more accessible, allowing artists to reach a wider audience and creating a demand for live performances. In conclusion, the Music Events market in Australia & Oceania is developing due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customers are seeking more immersive and interactive experiences, leading to the rise of music festivals and unique venue choices. The region's diverse cultural heritage, vibrant music scene, and favorable climate contribute to the growth of the market. Additionally, strong economic growth and rising disposable incomes have increased consumer spending on entertainment, while the accessibility of digital streaming platforms has created a demand for live performances.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.Modeling approach / Market size:
Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.
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